Running The Numbers For Selling Your House in Philadelphia

Selling your house in Philadelphia? Make sure you run the numbers so you know exactly what to expect! A traditional sale can cost a fortune whereas a direct sale won’t usually cost you anything. In this blog, we discuss the costs and timeframe you can expect when selling your house in Philadelphia!

Many people will blindly jump into a listing agreement with a [maret_city] real estate agent without first considering how the process will play out. Before signing an agreement or deciding how you want to sell your house in Philadelphia, you should try to estimate how long it will take and what it will cost you. You should also consider multiple selling methods and how they will impact your situation. Keep reading to learn more about running the numbers for selling your house in Philadelphia.

Repair Costs

The trouble with repair costs is that they can tend to snowball. A leaking pipe that seems like a quick fix, may actually be the source of major water damage to the home. Many homeowners find that once they fix one thing, several more repairs will follow. When putting your house on the MLS in Philadelphia, you’ll want to put your best foot forward. This means making and noticeable repairs and preparing to be faced with more after the inspection. Potential buyers will often try to negotiate after the appraisal and inspection process, forcing the seller to cough up even more cash. Some sellers will pay for an inspection on their own before listing so they know exactly what they are getting into.

Preparation Costs

A lot can go into preparing your house for the MLS in Philadelphia. You may choose to remove personal belongings and store them elsewhere. Or you may want to stage the house, adding in some pieces here and there to make the house look professionally decorated. You may even go so far as to bring in an actual designer to make the house look as warm and welcoming as possible. No matter how great your house currently is, you will likely find yourself doing some work to make it even better.

Marketing Costs

If you decide to list your house with a real estate agent in Philadelphia, make sure you know which types of marketing will be used to sell your home. Some agents all full-service, pulling out all the bells and whistles, while others will simply put your house on the MLS, hoping for a buyer to come along. Many homeowners find themselves paying for premium listings, professional photography, and other marketing materials.

Holding Costs

Do you know how much it costs to own your home? Not only are you likely paying a mortgage each month, but you should also account for the utility bills, repairs costs, and the usual maintenance expenses. Ask any real estate investor and they will tell you that the longer you own a house, the more it is costing you. To end your holding costs right away, consider a direct sale of your house in Philadelphia. Selling in days, not months, has the potential to save you thousands of dollars that you would have otherwise spent on the home.

Agent Commissions and Costs

Your agent’s commission will be somewhere around 6% of your final sale price. So let’s say your house sells for $250k. You will immediately be out about $15k plus any other fees or reimbursements due to your agent. When you include this hefty amount with all the other costs and fees you will likely face, you may find that a direct sale will be a better way for you to sell.

Closing Costs

Closing costs for a property seller will usually run anywhere from 1-3% of the final sale price. So again, if your house sells for $250k, you will likely be spending another $2,500-$7,500 once you reach the closing table. With a direct sale to SellPAHomeFast, you won’t have to worry about the closing costs. We will handle everything so you can sell your house fast and move on.

When deciding whether to list your house with a Philadelphia real estate agent or sell it on your own, it’s important to have a realistic grasp on what everything is really going to cost you. Don’t just rely on your estimated final sale price to tell you which way to sell. You must factor in all of the costs you will face too. Putting your house on the MLS can be expensive. However, for some houses, it makes the most sense. For other properties, a direct sale will ultimately help the seller keep more money in their pocket while saving time and energy. It’s important to look at your property and your situation to determine which selling method will be the best for you!

Selling your house in Philadelphia can be a fair and simple process! Contact us today to learn more about what we can offer you! (484)713-4009

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Who would you trust more? A random Company you find on the Internet, or do you want to work with John Reilly? John is a lifelong Delaware Valley resident, who knows South Eastern PA well. He is a professional with 30 years of experience, who donates over 500 hours a year as a volunteer youth soccer coach. John resides in Chester County, PA, with his wife and 2 children.

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“I’ve owned this rental property for a long time, and things were great. Then I hit a stretch of some bad tenants and I needed to make a lot of repairs to the property. I just didn’t feel like going through the hassle of managing the construction and contractors. John’s offer didn’t have all the contingencies like the other offer. John was great to work with and helped me track down documents for settlement. I would happily work with John again.”

Richard S., Elkins Park, PA

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